MBA CRU Practice Questions - Certified Residential Underwriter Exam - MBA CRU Practice Questions

Question 1

For a salaried W-2 borrower whose YTD pay stub shows $52,000 over 26 weeks with no overtime, the qualifying monthly income is:

$$8,667 $$4,333 $$2,000 $$1,000

Correct Answer:

$$8,667

Question 2

A borrower has gross monthly income of $7,500. Total monthly debts (including the proposed PITI of $1,800) are $2,250. The total DTI is:

24% 30% 32% 36%

Correct Answer:

30%

Question 3

For a self-employed borrower with Schedule C net profit of $84,000 in 2024 and $96,000 in 2023, the qualifying monthly income (assuming both years acceptable) is approximately:

$$7,500 $$8,000 $$7,000 $$10,000

Correct Answer:

$$7,500

Question 4

Under Fannie Mae's Selling Guide, when documenting rental income on a Schedule E investment property, the underwriter:

Adds back depreciation, mortgage interest, taxes, insurance, HOA and uses 75% if calculating with leases Uses gross rent only Uses gross rent minus expenses Ignores Schedule E entirely

Correct Answer:

Adds back depreciation, mortgage interest, taxes, insurance, HOA and uses 75% if calculating with leases

Question 5

A borrower presents a credit report with a 30-day late payment on a credit card 6 months ago and no other derogatories. The underwriter generally considers:

Whether the late was an isolated incident with explanation, and overall credit pattern Automatic denial Ignore the late Always require 12 months perfect

Correct Answer:

Whether the late was an isolated incident with explanation, and overall credit pattern

Question 1

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About this Exam

Prepare with the MBA CRU Practice Questions - Certified Residential Underwriter Exam practice quiz. This question bank includes 100 questions covering borrower, fannie, income, loan, and underwriter. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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MBA CRU Practice Questions - Certified Residential Underwriter Exam

This practice set contains 100 questions from the matching question bank and focuses on borrower, fannie, income, loan, and underwriter. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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MBA CRU Practice Questions - Certified Residential Underwriter Exam

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